Marking the start of an exciting new era, Mövenpick Holding and its partner Kingdom Holding have agreed to sell Mövenpick Hotels & Resorts to AccorHotels.
Established in 1973, Mövenpick Hotels & Resorts today manages over 20,000 rooms in 84 hotels across Europe, the Middle East, Africa and Asia. The hospitality giant has 42 additional hotels under development, which are scheduled to open by 2021.
Meanwhile, AccorHotels’ portfolio comprises over 4,300 hotels, resorts and residences spanning 100 countries.
Following its integration into AccorHotels, Mövenpick Hotels & Resorts will continue its hospitality growth and will gain access to a world-renowned customer loyalty programme and new sales channels. The company will also be able to increase the operational performance of its managed properties.
AccorHotels is to pay approximately $566.9 million for Mövenpick Hotels & Resorts. The transaction is subject to regulatory approvals and should be completed in H2 of 2018.